WSJ's Liam Denning stops by Mean Street to spotlight Exxon Mobil's move out of shale gas development in Poland and into efforts to explore Russian shale. (Photo: Agence France-Presse/Getty Images)

This transcript has been automatically generated and may not be 100% accurate.

... the ... she'll dance is a new goal where did really ... actually make some big decisions on double bass that we need to explore and find out what's going on with big oil in shale gas he discussed with us ... the ministry on ... debt yet to be an ending and I know the one line using given for now and so ... we have been the center of the year gets them are for I read this tomorrow ... but so tells about what's happening week with Exxon an interesting shift ... in India job to police to go into the fetal position see I mean we can think of shale oil and gas is being the most U S and I love these companies are now trying to develop the resources outside the sun ... Exxon in last few days has announced a couple things one is today it's it's gonna suspend further ... exploration for shale gas in Poland ... a few days ago that it said it was going on beef up ... its efforts in Siberia with Rosneft its Russian partners to try and ... develop shale resources that ... and ... he almost on the surface that looks like a plot of the pot and because I'm and is desperate to break its reliance on Russian gas on ... any time ... company withdraws from from it just shows that just how difficult it's gonna be to develop shale resource that ... I know was that looks like a button for Russia the Russian very dependent on oil and gas exports and ... hear any foreign help they can get to develop those resources looks good ... aam but I would say that actually he in some ways both countries are in the same but regardless for Exxon is down because ... of the more people miss is that ... it isn't really just about in having the right resources in place and if that was the case Russia and China will be far away to United and developing this off the much quicker than the US ... the fund is the US the sun and voltage is ... an inherent to that which which given that Qantas advantage of other areas of the law such as it was a phrase awful United he think about the whiney ... shale gas has been developed and has been developed by lots of small companies ... going on to ... land on my Fama's he ... critically on in the resource rights on beneath the land which is that which is ... the model here there is a very common in the Russell was ... the isthe for easy meat easier for what it was a drill because they just have to ... have one person agreeing with I'll say gives the land on the tuna an incentive to actually allow you to come on says Landon and ... put up with the inconvenience of each new drilling in an indie chance they can ... on the other thing you have here is in a very deep financial markets so it will be small companies can raise money ... for bondholders investors ... and also very well to the futures market so they can actually had to the risk of the gonna take in developing this cast ... an unknown cut the cash flows or they can be getting ... none of this already exists in many other markets around the world may be counted and maybe the UK ... of the setting on Russia weigh in on rising not a property rights and really all that well defined ... aam and is the same issue in Parliament unity that you don't have to give the boy ... yes and and that the developing competitive US market has been taken over by smaller companies and what you did you try to break into the US what you will sweat well this is what some is on the net sum for XTO Energy spent ... roughly forty billion dollars buying the company is a God ... many people think that was a mis timed steel because aborted when gas prices still up around five or six dollars ... aam ... of buckets of tomatoes in it still remains the scene was the big oil is gonna be able ... to really take what's been done in the US and replicated elsewhere because this isn't a not troll ... common area for them in of the goal is much more about ... taking a very big projects like for example when Exxon skies very big gas projects in the Middle East ... I'm managing these complex projects was show is much more of a coming of a Wildcat to ... the C United ... these these kind of guys on the edge of the industry got in on a hunch and ... drew a few wells and and you know they've made a great success with its own really Exxon's model I see and so all that that may not big oil companies who's got the engine shale ... and she just additional exploration show expiration on Chevron ... has a pretty nice position in the US and sounds of shale liquids and liquids is well the money is now because gas prices so much ... you know at some overseas to XTO has a big position but it remains to be seen how well it's gonna make an ... IPO of that ... show is another company with a big position stocks oil and Norway's national company has also been staking things out ... and even beyond the Chinese have been trying to ... develop the partnerships ... in the US because they have huge shale reserves in China that difficulty again ... is they don't really have the financial on the painting ... to develop a little so they suffer from not a lack of water resources in the export potential underpinning could you just have developed ... a Jean-Marc kid or ... two market else will ... you buy from the euro he could but um you know those things if you think about the things that I can the US that to the U S